Millennium Management LLC Acquires 236,257 Shares of Stag Industrial, Inc. $STAG

Key Points

• Millennium Management LLC increased its stake in Stag Industrial, Inc. by 69.7%, acquiring 236,257 additional shares, bringing its total holdings to 575,217 shares valued at approximately $20.8 million.
• Stag Industrial reported a quarterly earnings of $0.63 per share, meeting analysts' expectations, with a revenue of $207.44 million reflecting a 9.4% year-over-year increase.
• The company recently declared a monthly dividend of $0.1242 per share, representing an annualized yield of 4.1% with a payout ratio of 117.32%.

Millennium Management LLC boosted its holdings in Stag Industrial, Inc. (NYSE:STAG - Free Report) by 69.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 575,217 shares of the real estate investment trust's stock after purchasing an additional 236,257 shares during the period. Millennium Management LLC owned approximately 0.31% of Stag Industrial worth $20,777,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in STAG. Bank of America Corp DE lifted its stake in Stag Industrial by 8.0% in the fourth quarter. Bank of America Corp DE now owns 1,232,421 shares of the real estate investment trust's stock worth $41,680,000 after purchasing an additional 90,915 shares during the last quarter. Captrust Financial Advisors increased its position in shares of Stag Industrial by 15.1% in the fourth quarter. Captrust Financial Advisors now owns 28,199 shares of the real estate investment trust's stock valued at $954,000 after acquiring an additional 3,699 shares during the period. D. E. Shaw & Co. Inc. increased its position in shares of Stag Industrial by 927.0% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 136,412 shares of the real estate investment trust's stock valued at $4,613,000 after acquiring an additional 123,129 shares during the period. Gotham Asset Management LLC increased its position in shares of Stag Industrial by 9.3% in the fourth quarter. Gotham Asset Management LLC now owns 8,349 shares of the real estate investment trust's stock valued at $282,000 after acquiring an additional 710 shares during the period. Finally, Lazard Asset Management LLC increased its position in shares of Stag Industrial by 43.5% in the fourth quarter. Lazard Asset Management LLC now owns 24,242 shares of the real estate investment trust's stock valued at $819,000 after acquiring an additional 7,353 shares during the period. 88.67% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Benjamin S. Butcher sold 25,000 shares of the business's stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $36.91, for a total transaction of $922,750.00. Following the transaction, the director owned 7,562 shares in the company, valued at $279,113.42. The trade was a 76.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.10% of the stock is owned by corporate insiders.

Stag Industrial Price Performance

Shares of NYSE STAG opened at $36.27 on Friday. Stag Industrial, Inc. has a 1 year low of $28.61 and a 1 year high of $40.40. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.31 and a quick ratio of 1.31. The company's 50-day moving average is $35.74 and its 200 day moving average is $35.18. The stock has a market capitalization of $6.77 billion, a P/E ratio of 28.56 and a beta of 0.94.

Stag Industrial (NYSE:STAG - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The real estate investment trust reported $0.63 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.63. Stag Industrial had a net margin of 29.14% and a return on equity of 6.71%. The company had revenue of $207.44 million for the quarter, compared to analysts' expectations of $206.37 million. During the same quarter in the previous year, the company earned $0.61 earnings per share. Stag Industrial's quarterly revenue was up 9.4% on a year-over-year basis. On average, sell-side analysts expect that Stag Industrial, Inc. will post 2.47 earnings per share for the current year.

Stag Industrial Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Monday, September 15th. Investors of record on Friday, August 29th will be given a dividend of $0.1242 per share. The ex-dividend date is Friday, August 29th. This represents a c) annualized dividend and a dividend yield of 4.1%. Stag Industrial's payout ratio is currently 117.32%.

Analyst Ratings Changes

STAG has been the topic of a number of analyst reports. Royal Bank Of Canada restated a "sector perform" rating and issued a $38.00 price objective on shares of Stag Industrial in a research report on Monday, May 19th. Evercore ISI boosted their price objective on shares of Stag Industrial from $39.00 to $40.00 and gave the company an "outperform" rating in a research report on Wednesday, July 30th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $38.17.

Stag Industrial Company Profile

STAG Industrial, Inc is a real estate investment company, which engages in acquiring, owning, and managing single-tenant, industrial real estate assets. It offers industrial real estate operating platform to real estate ownership. The company was founded by Benjamin S. Butcher on July 21, 2010 and is headquartered in Boston, MA.

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